secwatch.observer — SEC 8-K summary
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Issuer:     Calumet, Inc. /DE (CLMT)
CIK:        0002013745
Form:       8-K
Filed at:   2026-01-12T23:59:59+00:00
Accession:  0001193125-26-010438
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calumet closes upsized $405M 9.75% senior notes offering; proceeds to redeem near-term maturities
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- Issued $405M of 9.75% Senior Notes due 2031 at 98.996% of par; net proceeds ~$393M.
- Offering upsized from $350M; proceeds to redeem all 11.00% 2026 and 8.125% 2027 near-term notes.
- CEO Todd Borgmann cited $220M debt reduction in 2025 and $120M H2 cash generation for strong demand.
- Notes mature Feb 15, 2031; interest semi-annual starting Aug 15, 2026; callable at 104.875% in 2028.
- Equity clawback allows up to 35% redemption at 109.75% prior to Feb 2028; change of control put at 101%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2013745/000119312526010438/0001193125-26-010438-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2013745/000119312526010438/d20818d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-010438

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer